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Post by jpg on Nov 12, 2015 15:13:13 GMT -5
We've not receive any confirmation that the 9M shares that BofA borrowed have been returned to the treasury. Those can also be sold without dilution, since they are already outstanding shares. I suspect that they'll wait until pps is higher and might even return them to the treasury until later when, or if, needed.
It's as if management has no immediate worries about cash. Is a deal in the works?
The share price is not plummeting, there is still a battle going on in the trading action. I suspect the bears are attempting to pull it down, but now the buying pressure may become insurmountable. As someone else stated, it seemed bizarre at the time that they'd pay so much debt with cash if money was an issue. Just wish things weren't so unnecessarily secretive. Maybe we'll find out, but how does it benefit them to keep a deal quiet? They probably can't name the partner or perhaps don't want to give false hope if it ends up dissolving but why not even throw out a bone and tell us "there is a potential deal that, if it closes, will be announced soon." What would be the harm in that? Is that against the rules, or would that be considered pumping the stock? Nice picture change...
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Post by gamblerjag on Nov 12, 2015 15:13:54 GMT -5
why wouldn't they... so someone can sell? day trader? funny people always just think about how it benefits them. Yesterday people were upset they didn't give a response to the b.s. today people are upset they did a press release.. geez!
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Post by dreamboatcruise on Nov 12, 2015 15:14:19 GMT -5
I believe this explains why we are seeing such a large jump today, they are buying on the open market. Why would they buy on the open market as opposed to through the offering, do they expect to sell in the next 6months? The crazy volatility of MNKD might have made them reluctant to cast their lot too heavily on the closing price on one day. Probably could have been quite low compared to average over the day just as easily as quite high. ETFs probably would prefer spreading the buying to try to get some average price rather than gambling. My 2 shekels.
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Post by me on Nov 12, 2015 15:14:54 GMT -5
I guess Mannkind isplaying the same (hard to figure out) game then the shorts are playing? This is confusing to say the least. We are not informed as to anyones playbook so how do survive this type of game of chess? Is Mannkind deaperate or outsmarting the shorts? I certainly have no clue but I think we will soon find out. Fascinating stuff! jpg, you are 100% correct. Right now this is a giant chess game. I see it as (i) MNKD TASE listing which caught EVERYONE off guard, countered by (ii) shorts' false stories yesterday (a reaction), followed by (iii) MNKD's "less than anticipated" placement with the ETFs, followed by (iv) downward pressure by shorts ( another reaction), but wait...given the PR, shouldn't the price naturally move to $2.69 (or even $2.61)? I think the shorts, on the way to their next reaction (short selling the price back down), have paused for a moment to think about this! "What will be MNKD's/ETFs'/SNY's/others' next move if I continue to short? What could possibly negatively impact my short thesis?" If I were asking myself that question, along with pondering the last 24 hours of activity, I would be a little unsure of whether continued shorting is a comfortable strategy. Indeed, what will be MNKD's/ETFs'/SNY's/others' next move?
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Post by gamblerjag on Nov 12, 2015 15:15:04 GMT -5
36 million is about one year of operations. if they burn 8-9 million a quarter.
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Post by cathode on Nov 12, 2015 15:17:14 GMT -5
36 million is about one year of operations. if they burn 8-9 million a quarter. Unfortunately they will be burning 8-9 million a month.....
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Post by tchalaa on Nov 12, 2015 15:17:53 GMT -5
Up to 50 million shares are needed for indexes and ETFs, also Mannkind clearly stated it will make some direct offer and the remaining shares will be bought from the open market. Mannkind recently had 9 million share which were returned and i think those shares are among the 13,852,435 shares directly sold, hence to minimize dilution with only roughly 5 million shares. The remaining 50-14=36 million shares will be collected from the float, meaning approximately 36 million shares less to short.
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Post by jefferson on Nov 12, 2015 15:18:16 GMT -5
It does seem weird that they handled the debt by paying cash... But, I really always do fallback on what we don't know. Look at it this way, my companies don't have billion dollar market caps, but I also don't telegraph our moves to anyone, whether it be the competition, the market etc. Its not hard to see why MNKD doesn't announce every single thing they are doing. They have a huge target on their backs. I love how they didn't respond yesterday to AF. Yeah it shook the market, but by not responding to that piece of garbage they set a precedent that they're not going to get involved in this garbage. We don't know whats going on behind the scenes. I'm totally cool with that. I am confident that everyone involved in this company, whether it be SFY, Matt, Hakan, etc aren't f'ing around and trying to waste money and time. Sanofi partnered for a reason. The slow rollout doesn't seem strange to me, in fact, it seems smart for all the reasons that have been beat to death on here. That hasn't changed for me, as the paranoia of the market changes. Its what keeps me calm when everyone else is selling. We still have plenty of time for this to work out. Al is not going to let this company go BK. Let Fuckstein and his friends suck each other off and spin BS. sucks if you get caught up in it, but if you do your DD, like the a lot of others on this board have, then you can be confident. Science is great, diabetes still exists, ask a diabetic you know if they would rather use a needle or a faster acting inhaler. lets let the companies that have made multi billions for themselves marketing pharmaceuticals figure out when to release an ad and how to educate doctors. you know, their job. There are strong cards both MNKD and SFY are holding close to their chest. Because we don't see them doesn't mean they don't exist. Buy the dips. breathe.
Have a great day!
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Post by mnholdem on Nov 12, 2015 15:18:43 GMT -5
Does it mean 13 million shares were brought via direct offering on 11/12, the remaining is going to be purchased via open market until 11/15? Directly from the Press Release: "The purchasers in the offering have committed to purchase an aggregate of 13,852,435 shares of common stock at a price per share equal to $2.61" "Remaining demand from the TASE index funds' long-term holding requirements are expected to be satisfied through open market purchases, which must be completed before Sunday, November 15, 2015." That's correct and since NASDAQ is not open on Sunday, all the ETFs from the Tel Aviv Stock Exchange (TASE) must buy those shares today and tomorrow. Hee-hee!
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Post by jeremg on Nov 12, 2015 15:20:01 GMT -5
36 million is about one year of operations. if they burn 8-9 million a quarter. No they burn $8-9mil per month, not quarter. It would not be possible to do business on $8-9mil/quarter. This allows them approx. 4 months which begs the question, where will they raise the remainder? OR as mnholdem said, do they even need to?
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Post by cathode on Nov 12, 2015 15:23:37 GMT -5
Directly from the Press Release: "The purchasers in the offering have committed to purchase an aggregate of 13,852,435 shares of common stock at a price per share equal to $2.61" "Remaining demand from the TASE index funds' long-term holding requirements are expected to be satisfied through open market purchases, which must be completed before Sunday, November 15, 2015." That's correct and since NASDAQ is not open on Sunday, all the ETFs from the Tel Aviv Stock Exchange (TASE) must buy those shares today and tomorrow. Hee-hee! That is what I mentioned in a previous post in this thread... Did the bear attack and misleading information spouted yesterday let these funds buy cheap calls so that they can actually execute the calls tomorrow on expiration day without raising the stock price too high with their huge purchases? Will they be getting shares not through trades on the "open market" but through the derivatives?
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Post by stevil on Nov 12, 2015 15:23:17 GMT -5
It does seem weird that they handled the debt by paying cash... But, I really always do fallback on what we don't know. Look at it this way, my companies don't have billion dollar market caps, but I also don't telegraph our moves to anyone, whether it be the competition, the market etc. Its not hard to see why MNKD doesn't announce every single thing they are doing. They have a huge target on their backs. I love how they didn't respond yesterday to AF. Yeah it shook the market, but by not responding to that piece of garbage they set a precedent that they're not going to get involved in this garbage. We don't know whats going on behind the scenes. I'm totally cool with that. I am confident that everyone involved in this company, whether it be SFY, Matt, Hakan, etc aren't f'ing around and trying to waste money and time. Sanofi partnered for a reason. The slow rollout doesn't seem strange to me, in fact, it seems smart for all the reasons that have been beat to death on here. That hasn't changed for me, as the paranoia of the market changes. Its what keeps me calm when everyone else is selling. We still have plenty of time for this to work out. Al is not going to let this company go BK. Let Fuckstein and his friends suck each other off and spin BS. sucks if you get caught up in it, but if you do your DD, like the a lot of others on this board have, then you can be confident. Science is great, diabetes still exists, ask a diabetic you know if they would rather use a needle or a faster acting inhaler. lets let the companies that have made multi billions for themselves marketing pharmaceuticals figure out when to release an ad and how to educate doctors. you know, their job. There are strong cards both MNKD and SFY are holding close to their chest. Because we don't see them doesn't mean they don't exist. But the dips. breathe. Have a great day! Thanks for replying, Jefferson. Most must have me on ignore lol. Oh well...
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Post by cjc04 on Nov 12, 2015 15:28:55 GMT -5
We've not receive any confirmation that the 9M shares that BofA borrowed have been returned to the treasury. Those can also be sold without dilution, since they are already outstanding shares. I suspect that they'll wait until pps is higher and might even return them to the treasury until later when, or if, needed.
It's as if management has no immediate worries about cash. Is a deal in the works?
The share price is not plummeting, there is still a battle going on in the trading action. I suspect the bears are attempting to pull it down, but now the buying pressure may become insurmountable. That was my thought too,,,, $36 mil gets them 3+ months, and they seem to be acting like that's all they need.
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Post by jurystillout on Nov 12, 2015 15:31:20 GMT -5
I just wish they were buying 36.2 million of Afrezza, Maybe that's chapter two in this story?
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Post by suebeeee1 on Nov 12, 2015 15:31:40 GMT -5
That's correct and since NASDAQ is not open on Sunday, all the ETFs from the Tel Aviv Stock Exchange (TASE) must buy those shares today and tomorrow. Hee-hee! It will be a shame for anyone holding short on this Friday's experation.
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